01 Sep, 2025
LADT and Newpay Open New Chapter in Laos’ Digital Economy
The Lao National Digital Technology Group (LADT), together with its third-party digital payment platform NewPay, officially launched operations in Vientiane on September 1 at a ceremony attended by Prime Minister Sonexay Siphandone, ambassadors, officials and representatives of NewPay and partners.The event, held at the Landmark Hotel, highlighted Laos’ ambition to become a regional hub for digital finance and blockchain technology.Prime Minister Sonexay Siphandone delivered the keynote address, praising the achievements of NewPay since its introduction in 2020 and emphasising the importance of digital transformation for Laos’ economic modernisation.He said the launch of LADT and NewPay is not only a milestone in financial technology but also contributes to the government’s policy of building a cashless society, strengthening transparency, and attracting international investment.The Prime Minister noted that NewPay’s multi-channel payment system – built on QR code technology and connected with international platforms such as WeChat Pay, Alipay and Alipay+ - provides secure, efficient and convenient services to domestic and international users. “This is an important step in expanding the financial ecosystem, reducing reliance on cash, and integrating Laos more deeply into the global digital economy,” he said.Distinguished ParticipantsThe ceremony was attended by a wide range of senior government leaders, including Minister of the Prime Minister’s Office, Mr Khamjen Vongphosy, Minister of Justice, Mr Phaivy Sybualapha, Minister of Finance, Mr Sunthiphub Phomvihane, Member of the Central Committeee and Vice Chairman of the Lao Front for National Construction, Mr Khamphoy Vannasan, Member of the Central Committee and Vice Chairman of the Central Inspection Committee, Mr Khamlay Siphaseth, Deputy Governor of the Bank of the Lao PDR, Mr Soulisak Thamnuvong, Deputy Minister of Technology and Communications, Mr Keovisouk Solaphom, Deputy Minister of Industry and Commerce, Mr Manothong Vongxay, and Deputy Minister of Foreign Affairs, Ms Fongsamoud Inlavanh.Also present were the Ambassadors of Myanmar, Malaysia, the Philippines and Thailand, together with more than 400 experts, business leaders and media representatives from the payments and Web3 industries, underscoring the high level of attention given to Laos’ digital transformation journey.Ministry RemarksSpeaking at the event, a representative of the Ministry of Technology and Communications highlighted the role of NewPay in building a secure and reliable digital financial ecosystem. He noted that the platform has undergone rigorous technical and compliance checks and is well-positioned to support national priorities such as blockchain infrastructure, digital identity systems, and e-commerce platforms.“The application of NewPay will benefit small and medium-sized enterprises, connect them with regional and international markets, and reduce the costs associated with cash management,” he said. “The partnership between LADT, NewPay and the Lao government exemplifies the value of public-private collaboration in driving innovation and competitiveness.”LADT and NewPay PerspectivesThe Founder and Chief Executive Officer of LADT, Mr Richard Ma, described the launch as a new stage in Laos’ digital finance journey. He said that with its strategic location in the Indochina Peninsula, Laos could become the “Switzerland of ASEAN”, a hub for digital finance, logistics and innovation.Mr Ma noted that NewPay has already integrated with Alipay, WeChat Pay, and the global Alipay+ ecosystem, supporting cross-border payments and laying the foundation for blockchain-based financial applications. He added that LADT will continue developing the Lao National Blockchain and the ASEAN stablecoin project, guided by the principle "LAOS BORN, ASEAN DRIVEN, GLOBAL IMPACT."The Chief Executive Officer of NewPay, Mr Meksavang Phommaly, reaffirmed the company’s commitment to secure, compliant and innovative services, emphasising collaboration with government agencies, financial institutions and international partners to advance cross-border payments and inclusive financial solutions.International CooperationThe launch event highlighted strong global support. The Chairman of the Bitcoin Cash Ecosystem Fund, Mr Peng Wang, said blockchain technology underpins trust, transparency and efficiency, and that the Lao National Blockchain will serve as a robust infrastructure for governance, finance, trade, and intellectual property management.The Executive Chairman of the Hong Kong Digital Assets Listed Companies Association, Mr Caspar Wong, emphasised Hong Kong’s expertise in financial systems and regulatory frameworks, offering Laos support in stablecoin issuance, cross-border payments and compliance.Dr Johnny Ng, Member of the Chinese People’s Political Consultative Conference, Hong Kong Legislative Council Member, Chairman of the Hong Kong LegCo Web3 and Virtual Asset Development Subcommittee, and Chairman of Goldford Group, delivered a video address highlighting long-term collaboration in technology, research and talent development to support Laos’ digital finance initiatives.Partnership AgreementsA central highlight of the event was the signing of multiple strategic agreements with leading international blockchain institutions, marking a significant step forward for Laos’ digital finance ecosystem.● Investment Fund Under BCH Sign Strategic Investment Agreement With LADTThe 42X Fund, a Singapore-incorporated growth expansion arm of the BCH Ecosystem, focuses on supporting innovative enterprises and emerging technologies. At the ceremony, the Director of the 42X Fund, Mr Johnson Teh and the Chief Operating Officer of LADT, Ms Humble Wu, signed a strategic investment agreement. The partnership will advance investment, implementation and ecosystem development in Laos’ fintech and blockchain initiatives, bringing international capital and technical expertise to the country.● The OOKC Group and LADT Sign a Memorandum of UnderstandingFounded in 2018 and headquartered in Dubai, OOKC Group specialises in digital capital market infrastructure and Web3 development. The Founder of OOKC Group, Mr Xiaojun Lau, and the Chief Executive Officer of LADT, Mr Richard Ma, signed a Memorandum of Understanding to deepen collaboration on Web3 and digital asset infrastructure, combining OOKC’s Middle Eastern resources with LADT’s ASEAN presence. The partnership aims to introduce the Lao model to ASEAN and Middle Eastern markets, accelerating digital economy initiatives in emerging regions.● The BCH Ecosystem Foundation and LADT Sign a Memorandum of UnderstandingThe BCH Ecosystem Foundation, which supports the sustainable development of Bitcoin Cash and the CashTokens ecosystem, provides funding, resources and strategic guidance for blockchain infrastructure. The Chairman of the BCH Ecosystem Foundation, Mr Peng Wang, and the Chief Executive Officer of LADT, Mr Richard Ma, signed a Memorandum of Understanding to establish long-term cooperation in national blockchain infrastructure, stablecoin issuance, and blockchain ecosystem development, reinforcing Laos’ influence in the global Web3 space.Prime Minister and LADT CEO Discuss Digital Finance DevelopmentDuring the ceremony, Mr Richard Ma discussed cross-border payments and the growth of digital finance with Prime Minister Sonexay Siphandone. The Prime Minister encouraged continued exploration aligned with Laos’ national context and pledged government support for future initiatives, according to NewPay.Social Responsibility InitiativeGuests participated in a special charity segment supporting the Visually Impaired School in Vientiane, scanning NewPay QR codes to make donations. Prime Minister Sonexay Siphandone personally participated, demonstrating how digital technology can connect innovation with social responsibility.Looking to the FutureLADT and NewPay outlined their strategic priorities for the coming years, which include:● Building the Lao National Blockchain and related applications;● Creating a compliant, transparent and efficient digital finance ecosystem;● Expanding cooperation with ASEAN member states and international partners;● Promoting stablecoin applications and cross-border payments;● Strengthening human resource development, research exchange, and startup incubation.The official launch of LADT and NewPay marks a milestone in Laos’ digital transformation. By integrating government support, private sector innovation and international collaboration, Laos is positioning itself as a regional leader in digital finance.LADT and NewPay are set to drive blockchain innovation, cross-border payments and Web3 development, accelerating Laos’ transformation into a digital finance hub for ASEAN and the global market.